Eledon Pharmaceuticals (NASDAQ:ELDN) PT Lowered to $25.00 at HC Wainwright

Eledon Pharmaceuticals (NASDAQ:ELDN) had its price target cut by HC Wainwright from $35.00 to $25.00 in a report issued on Wednesday, The Fly reports. They currently have a buy rating on the stock.

Several other brokerages have also recently issued reports on ELDN. SVB Leerink reiterated a buy rating and set a $33.00 price target on shares of Eledon Pharmaceuticals in a research report on Sunday, November 14th. Zacks Investment Research upgraded shares of Eledon Pharmaceuticals from a sell rating to a hold rating in a report on Tuesday, October 19th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Buy and a consensus price target of $27.67.

Shares of NASDAQ ELDN opened at $5.19 on Wednesday. Eledon Pharmaceuticals has a 1 year low of $4.81 and a 1 year high of $25.81. The company’s 50-day moving average is $6.05.

Eledon Pharmaceuticals (NASDAQ:ELDN) last announced its quarterly earnings results on Thursday, November 11th. The company reported ($0.66) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.67) by $0.01. During the same quarter in the previous year, the firm posted ($3.91) EPS. As a group, research analysts forecast that Eledon Pharmaceuticals will post -2.62 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Ikarian Capital LLC lifted its stake in shares of Eledon Pharmaceuticals by 40.0% in the second quarter. Ikarian Capital LLC now owns 350,000 shares of the company’s stock worth $2,769,000 after buying an additional 100,000 shares in the last quarter. Point72 Asset Management L.P. lifted its stake in shares of Eledon Pharmaceuticals by 51.0% in the second quarter. Point72 Asset Management L.P. now owns 188,690 shares of the company’s stock worth $1,493,000 after buying an additional 63,690 shares in the last quarter. Millennium Management LLC bought a new position in shares of Eledon Pharmaceuticals in the first quarter worth approximately $156,000. Renaissance Technologies LLC bought a new position in shares of Eledon Pharmaceuticals in the first quarter worth approximately $289,000. Finally, Geode Capital Management LLC bought a new position in shares of Eledon Pharmaceuticals in the first quarter worth approximately $1,060,000. Institutional investors and hedge funds own 66.02% of the company’s stock.

About Eledon Pharmaceuticals

Eledon Pharmaceuticals, Inc is a clinical stage biotechnology company using its expertise in targeting the CD40L pathway to develop potential treatments for people requiring an organ or cellular transplant, and for people living with autoimmune and neurodegenerative disease. The firm’s compound in development is AT-1501, a humanized IgG1 anti-CD40L antibody with high affinity for CD40 ligand (CD40L, also called CD154), a well-validated biological target with broad therapeutic potential.

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